Crypto online gaming platform BC.GAME has announced the decision to withdraw its license from Curaçao. In a press release, the company stated that this move comes in response to Curaçao’s “increasingly hostile environment” for operators in recent years and as the company seeks to prioritize more regulated markets.
“Despite ongoing efforts to modernize Curaçao’s iGaming law, proper legal protection for all operators established in Curaçao is severely lacking, such as its bankruptcy law which dates to 1931 via the ‘Curaçao Bankruptcy Decre’ which can easily be exploited by malicious actors and used against legitimate operators,” BC.GAME added.
Therefore, on December 5, BC.GAME decided to officially withdraw its Curaçao license. The company assures that this decision “in no way” will affect BC.GAME’s wider international operations. Separately from Curaçao, BC.GAME holds gaming licenses in multiple other jurisdictions, and its international operations remain “fully compliant” with its applicable regulatory obligations.
As the global gaming industry faces an increasingly complex regulatory environment, BC.GAME says this move is “essential” in enhancing and maintaining its operational strategy to ensure continuity and to realign BC.GAME with “suitably evolved and robust regulatory frameworks for the benefit of its international operations.”
BC.GAME also dismissed recent rumors questioning its financial position, “further reaffirming to its stakeholders and the public in general that its financial position remains in good health.”
“All BC.GAME’s international operations remain unaffected and BC.GAME will continue to fulfil all of its ongoing legal and financial obligations,” the operator said.
In an exclusive conversation with Asia Gaming Brief, the company’s legal counsel Jefferson Ha, Senior Legal Counsel at BC.GAME, described the Curaçao environment as increasingly “operator-unfriendly,” citing regulatory uncertainty, procedural flaws, and the antiquated 1931 Bankruptcy Decree as key obstacles.
“The regulatory system doesn’t reflect modern industry standards, making it difficult for operators to thrive,” indicated the legal expert. BC.GAME’s decision to leave Curacao aligns with its broader strategy to focus on jurisdictions with robust compliance frameworks. “We’ve decided to move forward with jurisdictions that prioritize transparency and operational stability,” he added.
Aside from having licenses in Mexico and Anjouan, the company is in the final stages of obtaining further licenses in other jurisdictions, such as Vanuatu, Tobique, and Brazil, with plans to expand further into emerging markets such as Peru.
Original article: https://www.yogonet.com/international/news/2024/12/11/88137-bcgame-withdraws-its-gaming-license-from-curacao-operator-to-focus-on-regulated-markets
